Efficiency Criteria and the Sen-type Social Welfare Function
Most of the Social Welfare Functions available in the literature are Paretian, that is increase in anybody's income in the society is welfare augmenting. The Sen type social welfare function possesses this property as well. However, Paretianity is normative criteria and might not be accepted by everybody. This paper has demonstrated this problem of Paretianity and proposes an alternative Social Welfare Function.
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- Sen, Amartya, 1974. "Informational bases of alternative welfare approaches : Aggregation and income distribution," Journal of Public Economics, Elsevier, vol. 3(4), pages 387-403, November. Full references (including those not matched with items on IDEAS)
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